SMN Corporation (TSE:6185) entered into a share transfer agreement to acquire Ruby Groupe, Inc. from Sanyo Shokai Ltd. (TSE:8011) for ¥1.6 billion on March 11, 2021. Under the terms of consideration, SMN Corporation will acquire 0.14 million shares. Ruby Groupe will be excluded from the consolidated subsidiaries of the Company due to the transfer of shares.

The deal is expected to be completed by March 25, 2021.